Latvian Railways post €800,000 in gross profit for 2016

Despite a complex geopolitical situation, Latvia's state-owned Latvian Railways (Latvijas Dzelzceļš) posted €800,000 in gross profit last year, the company's head Edvīns Bērziņš told LTV May 15.

He said sanctions against Russia reduced the volume of the freight the company carried last year. He also claimed positive tendencies are being seen currently, with freight volumes growing 7% (April) and 3-4% (May) on year this far. 

In 2016 the company posted a €0.9 million profit, down from €2.1 million in 2015. 

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